[FePt(2 nm)/Ag(d nm)]10 mutilayers were deposited on single crystal MgO (100) substrates by magnetron sputtering. L10-FePt/Ag nanocomposite films with a high coercivity and a perpendicular orientation were achieved by annealing the as-deposited films at 600 °C for 15 min. The result of high resolution transmitting electron microscopy (HRTEM) shows apparent mutilayer structure of the [FePt(2 nm)/Ag(5 nm)]10 film. We also found the good epitaxial growth of FePt on MgO  direction. Atomic force microscopy (AFM) observation on the surface morphology showed that the surface particle size and roughness degree decrease with increasing the Ag layer thickness.